Author: Max Bauer

Coinbase, the largest cryptocurrency exchange in the United States, has publicly endorsed the creation of a US strategic bitcoin reserve. This endorsement came Friday in a blog post by CEO Brian Armstrong focused on “economic freedom,” shared exclusively with Axios ahead of its release. The timing is notable, coming just before President Trump’s second inauguration and Armstrong’s attendance at the World Economic Forum. Armstrong, who has become a prominent voice for the crypto industry in Washington, has taken a more assertive stance with regulators than many of his counterparts. This marks the first time Coinbase has explicitly supported the concept…

The U.S. Securities and Exchange Commission (SEC) has charged Digital Currency Group (DCG) and its subsidiary, Genesis Global Capital, along with former Genesis CEO Michael Moro, for misleading investors about Genesis’s financial health following the collapse of Three Arrows Capital in 2022. DCG has agreed to pay a $38 million penalty, while Moro will pay $500,000. According to the SEC’s order, the charges stem from the aftermath of Three Arrows Capital’s default on a margin call in June 2022. This default resulted in approximately a $1 billion loss for Genesis, significantly impacting its financial stability. However, the SEC alleges that…

Bitcoin is on a tear, rallying towards its largest weekly gain since the US election week in November, driven by anticipation surrounding pro-crypto President Donald Trump’s second inauguration. The world’s leading cryptocurrency has surged approximately 11% since Sunday, reaching $104,512 on Thursday, a 4.96% increase for the day. This impressive climb follows a period of fluctuating performance, with Bitcoin experiencing declines in three of the previous four weeks, after hitting an all-time high of $108,315 in December. The renewed optimism in the crypto market is largely attributed to Trump’s anticipated pro-crypto stance during his second term. “The market is now…

Bitcoin’s price has rebounded to $96,000 after a week-long dip to $90,000, fueled by reports that incoming US President Donald Trump plans to implement pro-crypto policies immediately upon his January 20th inauguration. Sources cited by the Washington Post suggest Trump will issue executive orders addressing alleged “debanking” and reversing the controversial SAB 121 policy, which restricts banks from servicing crypto firms. This move was anticipated by crypto billionaire Mike Novogratz, who identified SAB 121 as a Joe Biden-era policy likely to be repealed under a Trump administration. According to the Washington Post, Trump’s early embrace of a crypto legislative strategy…

In a recent interview, SEC Chair Gary Gensler defended the agency’s approach to regulating the cryptocurrency market, emphasizing the need for investor protection and compliance with existing securities laws. He reiterated his stance that while Bitcoin itself is not a security, many of the thousands of other crypto tokens are, and the market has been rife with non-compliance. Gensler addressed criticisms that the SEC has focused more on enforcement actions than establishing clear regulations, stating, “We have laws. Congress has passed those laws…But a sector of this field, crypto, the investing public is investing based on projects…without prejudging any one…

Amidst market volatility and concerns about inflation, Fundstrat Capital CIO and Head of Research, Tom Lee, remains bullish on Bitcoin, predicting it will be one of the best-performing assets of the year. In a recent CNBC interview, Lee discussed his market outlook, emphasizing the potential for a market turning point this week, driven by positive earnings and easing inflation data. Lee acknowledged recent market corrections, linking them to investor nervousness surrounding rising yields. However, he downplayed the significance of the Federal Reserve’s interest rate decisions, stating his market analysis isn’t based on rate cut predictions. He believes the market has…

The U.S. Supreme Court dealt a blow to Binance, the world’s largest cryptocurrency exchange, on Monday by refusing to hear its appeal in a class action lawsuit brought by investors. The investors allege that Binance illegally sold unregistered tokens that subsequently plummeted in value. The court’s decision leaves in place a March 2024 ruling by the 2nd U.S. Circuit Court of Appeals in Manhattan, which determined that U.S. securities laws could apply to Binance despite the exchange not being a U.S.-based company. The 2nd Circuit reasoned that because token purchases became irrevocable in the United States once payment was processed,…

Despite a recent CAD $25 million (USD $17.4 million) investment in the Solana ecosystem by Sol Strategies, CEO Leah Wald believes a Solana ETF (exchange-traded fund) is unlikely to receive US regulatory approval anytime soon. This statement comes on the heels of the firm’s announcement earlier this week regarding their significant investment. Wald, speaking ahead of the new year, highlighted Sol Strategies’ focus on advancing its business strategy. While expressing strong optimism for the Solana ecosystem, driven by observed developer activity and community enthusiasm, she remains cautious about the prospects of a US-based Solana ETF. “I think there’s quite a…

South Korean crypto entrepreneur Kwon Do-hyeong is set to stand trial in the United States on January 26, 2024, on charges of orchestrating a multi-year fraud scheme related to the collapse of Terraform Labs’ cryptocurrencies. According to a Bloomberg report, the trial date was set by District Judge Paul Engelmayer in New York following Kwon’s extradition from Montenegro in late December 2023. Kwon, co-founder of Terraform Labs, has pleaded not guilty to the charges, which include commodities fraud, securities fraud, wire fraud, and money laundering conspiracy. The indictment alleges that Kwon defrauded investors between 2018 and 2022, culminating in the…

Outgoing SEC Chair Gary Gensler, in a recent Bloomberg Markets interview with David Gura, reflected on his tenure and addressed criticisms while outlining his views on the future of the crypto market. With less than two weeks remaining before his January 20, 2025 departure, Gensler defended his agency’s actions against attacks from prominent figures, including the president-elect and Elon Musk, emphasizing the SEC’s focus on protecting everyday investors. Gensler acknowledged the “Wild West” characterization of the crypto market he made upon entering office and highlighted the SEC’s enforcement efforts. He noted that the agency brought roughly 100 enforcement actions related…